Despite positive growth in fiber subscribers and ARPU, the decline in consolidated revenue and unclear guidance on recurring revenue impact the outlook. Management's confidence in sustaining high IRRs and resource allocation for fiber expansion is reassuring, but concerns about competition and revenue sustainability remain. The Q&A revealed uncertainties, particularly with revenue recognition and rating agency views. Overall, the mixed signals from financial performance and strategic execution suggest a neutral sentiment, with no strong catalysts to drive significant stock price movement.